DLA Piper (Canada) LLP advised Freshii Inc. in its $144 million IPO and TSX’s first IPO of 2017

On January 31, 2017, Freshii Inc. (“Freshii”) completed an initial public offering (“IPO”), comprised of both treasury and secondary offerings, and Toronto Stock Exchange listing of Class A subordinate voting shares. An aggregate of 12,535,000 Class A subordinate voting shares were issued pursuant to the IPO, for aggregate gross proceeds to Freshii and the selling shareholders of approximately $144 million.  Freshii’s Class A subordinate voting shares trade on the Toronto Stock Exchange under the symbol “FRII.”  

The IPO was managed by a syndicate of underwriters co-led by CIBC Capital Markets, Jefferies Securities, Inc., RBC Capital Markets and Robert W. Baird & Co. Incorporated and including Cowen and Company, LLC, Canaccord Genuity Corp., Cormark Securities Inc. and National Bank Financial Inc.

Freshii is a fast-growing restaurant brand serving a healthy and customizable menu built around high-quality ingredients. Freshii's core mission is to help people all over the world live healthier and better lives by making healthy food convenient and affordable. Since opening its first store in 2005, Freshii has grown to 244 stores located across 15 countries and in more than 30 states and provinces in North America as of September 25, 2016.

DLA Piper (Canada) LLP advised Freshii on the IPO with a team led by Robert Fonn that included Derek Sigel, Russel Drew, Jamie Mandell, Nicole Kapos and Nicholas Sharratt (Corporate and Securities), Kevin Fritz (Tax), Sandra Appel (Franchising), Michael Richards (Employment) and Tamara Hunter (Privacy).

The firm’s Capital Markets Group has been very active in transactions in Canada over the past year and continues to provide issuers, underwriters, and placement agents with global advice and unmatched local, on-the-ground resources to support public and private equity and debt capital raising transactions.